FAKE BREAK! Gold price maintains the DOWN price range below 2365

✍️ NOVA hello everyone, Let's comment on gold price next week from 6/24 - 6/28/24

🔥 World situation:
Gold prices fell over 1.70% on Friday due to positive economic data from the US, which reduced expectations of interest rate cuts by the Federal Reserve. The XAU/USD trades at $2,317, below its opening price after reaching a daily high of $2,368. The US economy showed mixed signals, with June's PMI readings surpassing estimates but the housing sector declining as Existing Home Sales for May fell compared to April's data.

🔥 Identify:
Gold price had a FAKE BREAK to the 2365 zone then strong selling pressure on Friday, returning to the sideway price zone. Will continue to accumulate until the end of June 2024, maintaining below the 2365 area

🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $2338, $2365, $2385
Support : $2306, $2270


🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest